Mike Holmgren, Jimmy Haslam to meet, discuss Browns sale

Jimmy Haslam, the prospective new owner of the Cleveland Browns, is scheduled to watch the team practice and be introduced at a news conference on Friday, a league source told The Plain Dealer.

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Haslam, a Tennessee-based truck-stop magnate and minority owner of the Pittsburgh Steelers, completed an acquisition of the Browns on Thursday, the team announced. The deal is pending approval by NFL owners, which is expected to be completed in October.

"This is a very exciting time for my family and me," Haslam said in a statement. "To own such a storied franchise as the Cleveland Browns, with its rich tradition and history, is a dream come true. We are committed to keeping the team in Cleveland and seeing it get back to the elite of the NFL â- something all Browns fans want and deserve."

Current Browns owner Randy Lerner will sell 70 percent of the Browns to Haslam, with the other 30 percent reverting to him four years after the closing date, a person with knowledge of the sale told The Associated Press.

"I feel a deep debt of gratitude to the loyal and passionate fan base, as well as the people I've met and worked with over the years," Lerner said in a statement. "It has been a privilege to be involved with the Cleveland Browns and my only hope is that the Haslam family has the best of luck and that the Browns are restored to their rightful place among NFL Champions."